This document contains a short explanation of Capital Gains Tax, the allowances available in the 2024/25 tax year, and how you can use it in your year end tax planning.
General
This section contains miscellaneous & general financial information that you may find useful when dealing with certain life events.
Civil partnerships in the United Kingdom, granted under the Civil Partnership Act 2004, allow couples to obtain essentially the same rights and responsibilities as marriage. Initially the Act permitted only same-sex couples to form civil partnerships. This was altered to include opposite-sex couples in 2019. Though from March 2014 full same-sex marriage was legalised in England, Scotland and Wales, civil partnership remains available. Designed to be very much equivalent to marriage for same sex couples, a civil partnership carries both rights and responsibilities, in very broad terms, attracting the same legal and tax protections/advantages/disadvantages as a traditional marriage. This article explains further.
A short explanation of Inheritance Tax and how to plan for it in your tax planning.
UK News
The changes could cost up to £3bn which will have to come from higher taxes or cuts elsewhere, given the chancellor's self-imposed borrowing rules.
The police will not hand files to prosecutors until after the final report from the public inquiry into the scandal is published.
Exports to the US halved as President Donald Trump's tariffs caused some UK car makers to halt shipments.
Company executives say the sportwear giant will cut its reliance on producing goods in China to ease the impact of US trade policies.
In Lithuania and Australia, hungry fly larvae are used to process food waste into useful protein.